Commercial Real Estate

Kiosks, ad space can be alternative sources of revenue for malls
The Hindu Business Line

Malls must factor in alternative revenue streams at the design stage as they can contribute up to 20 per cent of revenues, contended speakers on Day 2 of the India Shopping Centre Forum 2011 in Mumbai. Alternative revenue streams such as kiosks, advertising spaces and in-mall events are currently treated as after-thoughts at the operations level, it was noted.

Companies start factoring in non-leasing income in markets abroad at the stage of feasibility planning, noted Mr Dheeraj Dogra, National Director – Retail, BNP Paribas Real Estate.

Economy

Private lenders make most of realty cash crunch, earn hefty interest
The Economic Times

BANGALORE/NEW DELHI: Rajesh Mehta, India’s biggest gems and jewellery exporter, has now turned the realty sector into his pot of gold. Since the middle of 2010, he has lent 380 crores to several medium and big builders at interest rates of 24% and more. So lucrative are these deals that Mehta has set aside a corpus of 500 crore for the sector.

“Nearly a quarter of my profits are coming from real estate,” said Mehta, chairman of Bangalore-based Rajesh Exports, who has made a killing out of the gold business in the last few years. But now his focus is on real estate project financing, returns on which are as good as investing in his favourite metal.

Land and Real Estate


Tishman to buy land in Gurgaon project from Emaar MGF for Rs 220 cr
The Economic Times

NEW DELHI: Delhi-based builder Emaar MGF is selling five acres in its 104-acre Emerald Hills Township in Gurgaon to global property developer Tishman Speyer for $50 million ( Rs 220 crore). Tishman is best known for its iconic Rockefeller Center building in Manhattan.

The 5-acre plot already has all approvals required for a 600,000 sq ft commercial office building. The deal is in its final stages of closure, said a person familiar with the development. In response to an email query, Emaar MGF said, “No comments.”

Delhi property registration fee hiked
The Financial Express

New Delhi: Owning a house in the city is now going to be costlier with Delhi Government today deciding increasing the registration fee for properties valued above Rs 50 lakh.

The Delhi Cabinet, presided over by Chief Minister Sheila Dikshit, decided to lift a cap of Rs 50,000 as maximum registration fee which will result in increase in registration fees for high-value properties.

Land prices skyrocket in capital
Telegraph India

Bhubaneswar, May 16: Real estate prices are skyrocketing in the city. In certain areas of Bhubaneswar, real estate prices have gone beyond Rs 3,000 per square foot, which is as high as that of Noida, in the vicinity of Delhi.

“People belonging to middle class suffers the most because of this,” said Ashok Sahu, a trader of Ganganagar area. According to Niladri Bihari Panda, a banker, the rise in land price in Bhubaneswar is mainly attributed to the fact that this is perhaps the only city in the state with facilities such as educational institutions, hospitals, entertainment centres and shopping malls.

Infrastructure

Centre to consider demand for Delhi-Chandigarh expressway
The Hindu Business Line

The government today said it would consider the demand of the Haryana Government to build an express highway between Delhi and Chandigarh at an estimated cost of Rs 8,000 crore.

“The Union Government would earnestly consider the ambitious Rs 8,000-crore project of Express Highway from Delhi to Chandigarh along the Yamuna river,” an official statement quoting the Union Surface Transport Minister, Mr C.P. Joshi, said.

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